Dow Up 112 Ahead of 3Q Earnings

September strength in service sector gives stocks a boost
By Nick McMaster,  Newser Staff
Posted Oct 5, 2009 3:14 PM CDT
William Long, left, of Krabik Trading, Luke Scanlon of KCCI Ltd., center, and Vito Perri of Jefferies Execution Services work on the floor of the New York Stock Exchange, in this undated file photo.   (AP Photo/Henny Ray Abrams)
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(Newser) – Stocks surged to gains late in the session today, as traders placed bets ahead of the third-quarter earnings season. Alcoa, which is expected to report a strong quarter, gained 4.6%. The ISM reported an upturn in the service sector in September—its index rose to 50.9, with a reading over 50 signaling growth. The Dow rose 112.08 points to close at 9,599.75. The Nasdaq was up 20.04, settling at 2,068.15, and the S&P 500 gained 15.25 to close at 1,040.46, the Wall Street Journal reports.